Property industry slams EU financial transactions tax

Property lobbyists are set to do battle with the European Union amid growing fears it may try to impose a tax which would undermine the benefits of Real Estate Investment Trusts (REITs).
The British Property Federation (BPF), EPRA, INREV and AREF have united in a bid to stop the proposed financial transactions tax (FTT) from being applied to REITs and real estate funds. Industry concern is centred on the wide-ranging definition of financial institutions to which the tax would apply. At present, this includes alternative­ investment funds and their fund managers………………………………………..Full Article: Source